Close Menu
Crypto News InsidersCrypto News Insiders
  • News
  • Videos
  • Learn
  • Bitcoin
  • Altcoin
  • Ethereum
  • Stablecoins
  • Blockchain
  • NFTs
  • Markets
  • Politics
  • DeFi
  • ETF
  • Insights
  • Web3
Trending

TRUMP Coin Treasury Adoption Increases as Newsmax Launches Monthly Accumulation Plan Worth $1.4B

39 mins ago

Spot ETFs Lose $536M as Prices Dip Below $110K

41 mins ago

Is Cardano Facing a Deeper Correction After a $350M ADA Whale Sell-Off?

43 mins ago

Bitcoin Meets Intellectual Property: Lombard and Story Forge Partnership for the Creator Economy

1 hour ago

ETF Inflows Increase, but XYZVerse’s CS2 League Captures Alternative Momentum

2 hours ago
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
Crypto News InsidersCrypto News Insiders
Login
Live Markets
  • News
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoin
    • Stablecoins
  • Blockchain
  • Insights
  • NFTs
  • Markets
  • Politics
  • DeFi
  • Learn
  • Videos
  • More
    • Web3
    • ETF
Newsletter
Crypto News InsidersCrypto News Insiders
Home»Altcoin
Altcoin

Nasdaq-Listed Company Announces South Korea’s First SOL Treasury

News RoomBy News Room4 weeks ago0 ViewsNo Comments3 Mins Read
Facebook Twitter Pinterest Telegram Email Tumblr Reddit LinkedIn

Major Solana News: Launch of the First Solana Treasury in South Korea

In a groundbreaking development within the blockchain world, the Nasdaq-listed DeFi Development Corp (DFDV) has joined forces with the Solana-based liquid staking platform, Fragmetric Labs. Together, they plan to launch the first Solana treasury in South Korea by acquiring a publicly listed Korean company. This move signifies an important step in the integration of blockchain technology into traditional finance and aims to bolster local interest in Solana’s ecosystem.

Expanding the Solana Ecosystem

DeFi Development Corp, known as the second-largest Solana Treasury firm, is expanding its collaboration with Fragmetric Labs to establish this innovative treasury. The announcement was made during the Solana Oriental event at Korea Blockchain Week on September 22, signaling a positive outlook for Solana’s future in Asia. Sang Kim, the co-founder of Fragmetric, hinted at this significant development last week, generating excitement among Korea’s burgeoning cryptocurrency community.

The Treasury Accelerator Initiative

This launch coincides with DeFi Development Corp’s new initiative to expand its Treasury Accelerator, which aims to fund other Digital Asset Treasuries (DATs). The company plans to leverage its existing balance sheet to drive global DAT growth and promote growth in SOL per share. A notable investment in this venture includes $22.88 million directed towards Flora Growth, a Nasdaq-listed cannabis company set to rebrand as ZeroStack for the purpose of accumulating Solana-related assets.

Impressive Holdings and Market Response

Following its investment strategies, DeFi Development currently holds a substantial amount of SOL—2,095,748 tokens, valued at nearly $500 million. On a recent trading day, DFDV stock closed down 4.62% to $16.93, reflecting a paring of gains during the week. This shows that, despite major announcements, market fluctuations remain unpredictable, emphasizing the volatile nature of cryptocurrency investments.

Price Dynamics: Solana and Fragmetric

Despite the exciting news, the Solana (SOL) price has also experienced a significant decline, dropping over 7% to $220 amid a broader market crash that affected various cryptocurrencies. The intraday trading data indicates a low of $218 and a high of $240, with a remarkable increase in trading volume by 150%. Crypto analyst Kaleo predicts a brighter future for SOL, estimating a potential increase to $1,000 as the total Solana treasury could surpass $4.3 billion, indicating a promising outlook for the ecosystem.

Fragmetric’s Governance Token Performance

In contrast to SOL’s decline, Fragmetric’s governance token, FRAG, has seen a modest increase of over 2% amid volatile trading conditions. The current trading price of FRAG stands at $0.04196, with a 24-hour trading range between $0.04009 and $0.04473. Additionally, the trading volume for FRAG has surged by 161% in the last 24 hours, showcasing an increased interest from traders and investors in the Fragmetric ecosystem.

This strategic partnership between DeFi Development Corp and Fragmetric Labs not only showcases the potential of Solana in the Asian market but also emphasizes the ongoing evolution of the blockchain landscape. While the volatility of cryptocurrencies remains a significant factor for investors, developments like these pave the way for a promising future within the Solana ecosystem, reinforcing the importance of innovative treasury models in the digital asset space.

Demo
Share. Facebook Twitter Pinterest LinkedIn Email Telegram WhatsApp

Related News

21Shares Files for 2x HYPE ETF to Amplify Exposure to Hyperliquid

Altcoin 3 hours ago

Trump Family’s Crypto Fortune Skyrockets with $1B Gains from WLFI, MELANIA, and TRUMP Tokens

Altcoin 23 hours ago

Dogecoin Sees Significant Utility Increase as Trump-Associated Thumzup Plans DOGE Payments

Altcoin 1 day ago

CoinShares Submits XRP ETF (XRPL) Filing to SEC for Nasdaq Listing

Altcoin 2 days ago

VolShares Moves Forward with 5x ETFs for ETH, SOL, and XRP Despite SEC Delays

Altcoin 2 days ago

XRP ETF Delays Confirmed by Expert: October 19b-4 Filings Are Procedural, Not Deadlines

Altcoin 3 days ago

Dogecoin Takes Center Stage on Wall Street as House of Doge Aims for Nasdaq Launch

Altcoin 3 days ago

XRP Attracts Significant Institutional Interest as ETF Approval Countdown Starts

Altcoin 4 days ago

Crypto Community Blames Binance, Wintermute, and Trump for the October 11 Market Crash

Altcoin 4 days ago
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Spot ETFs Lose $536M as Prices Dip Below $110K

41 mins ago

Is Cardano Facing a Deeper Correction After a $350M ADA Whale Sell-Off?

43 mins ago

Bitcoin Meets Intellectual Property: Lombard and Story Forge Partnership for the Creator Economy

1 hour ago

ETF Inflows Increase, but XYZVerse’s CS2 League Captures Alternative Momentum

2 hours ago

JPMorgan: Bitcoin (BTC) Network Hashrate Steadied in the First Half of the Month

2 hours ago

Latest News

21Shares Files for 2x HYPE ETF to Amplify Exposure to Hyperliquid

3 hours ago

BREAKING: Ripple Announces Plans for a New $1 Billion XRP Treasury

3 hours ago

Enters Corporate Treasury Sector with $1B Acquisition of GTreasury

3 hours ago

Subscribe to News

Get the latest crypto news and updates directly to your inbox.

Advertisement
Demo
Facebook X (Twitter) Pinterest TikTok Instagram
2025 © Crypto News Insiders. All Right Reserved.
  • Privacy Policy
  • Terms
  • Press Release
  • Advertise
  • Contact

Type above and press Enter to search. Press Esc to cancel.

Sign In or Register

Welcome Back!

Login to your account below.

Lost password?